Omaha daily bee., 1887-12-05
THE WEEK IN WALL STREET.
Six Days of An Unsettled Feeling on
the Stock Exchange.
PRICES SHOW A LOWER RANGE.
A Good Many Influences Combine to
Produce the Rcsult-lrresu-
larity i'm the Railroad
Bond Market.
Six DAYS of ShakineSs.

NEW YORK, Dec. a. Special Iclc-
gram to the BEE. The week was an unset
tied one on the stock exchange and during
the most of the time the bears held control of
speculation, and the rumor that Chicago
bank was in trouble-which, however, was
denied near the close, and the statement that
money was stringent at that point, the dis
turbng influence abroad of the French polit
ical crisis, which caused London to sell
stocks here on several days, rate cutting by
the Grand Trunk, and the determined raids
by professionals on the short side, as we'll as
by room-traders-all combined to bring about
lower range of values. The decline in
usually active shares ranged up to 4
and in some of the specialties to
5l9 points. Leading bulls offered but little
opposition to the downward movement,
chiefly for the reason that they had pre-
viously realized and were an Xous for u re
action. Thus the bears had things pretty
much their own way, and sold freely. Chi
cago, while bulling grain and provisions, was
bearish on stocks, and did its share toward
depressing the list. With all these adverse
influences at work it was surprising that the
decline was not greater. Special drives
were made against Coalers, and the talk
about strike on the Reading was used with
orders to buy at the scale came in and the
proposed Reading strike was averted, London
suddenly turned buyer, Union Pacific brought
out very favorable report, and the Grand
Trunk halted in its rate-cutting. Under
these circumstances a change of sentiment
took place and on Friday there was partial
recovery of the earlier decline. There is
still a belief among q large number of
operators that we will sooner or later drift
into a bull market, the only question with
10 OLE h..i,, 30 N,.,1
Some do not look for it until after the enor-
nous January disbursements, but others
think that prices will move up on the open
ing of congress, when it is expected that the
recommendations to that body will be of u
character likely to promote confidence in the
future of the financial situation. With
events so near at hand calculated
to have an important bearing on Wall street,
it was but natural that the week closed with
an indispostion among many people to enter
largely into new engagements until they hear
exactly what the president and secretary Of
the treasury have to say.
There was considerable irregularity in the
railroad bond market, which lacked vim.
weston, Harrisburg & San Antonio (western
| division) firsts, Detroit, Mackenzie s. hiur-
| quette land grants, Ohio Southern incomes,
Fort Worth tirsts, Indiana, Bloomington
Great Northern first and Green Bay
| incomes. The Kansas & Texas issues
| were weak at one time, but advanced after
| the interest was promptly paid On the other
| hand, many bonds displayed firmness, and
prominent in. thus class were Union Pacific,
| West Shore, New York Central, Erie, Mil
| waukee, Lake Shore Il Western and Atlantic
| g. Pacific issues.
| Governments were dull on narrow changes.
| The demand for exchange was light both at
| the opening and the close, with little soft
ening of rates, although in the middle of the
| week there was spell of strength, when the
| inquiry temporarily increased.